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COMPANY REGISTRATION NUMBER: 07337113
CHARITY REGISTRATION NUMBER: 1177769
Sports Orthopaedics Research Foundation
Company Limited by Guarantee
Unaudited Financial Statements
31 August 2023
Sports Orthopaedics Research Foundation
Company Limited by Guarantee
Financial Statements
Year ended 31 August 2023
Page
Trustees' annual report (incorporating the director's report)
1
Statement of financial activities (including income and expenditure account)
3
Statement of financial position
4
Notes to the financial statements
5
Sports Orthopaedics Research Foundation
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 31 August 2023
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 August 2023 .
Reference and administrative details
Registered charity name
Sports Orthopaedics Research Foundation
Charity registration number
1177769
Company registration number
07337113
Principal office and registered
36 Dene Road
office
Northwood
Middlesex
HA6 2DA
The trustees
C J Hayfield
(Resigned 2 January 2024)
I McDermott
N Clark
C Evans-Evans
H Atkinson
Company secretary
M Anthony
Accountants
Hardcastle Burton
Chartered accountants
36 Dene Road
Northwood
Middlesex
HA6 2DA
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
The trustees' annual report was approved on 19 February 2024 and signed on behalf of the board of trustees by:
I McDermott
Trustee
Sports Orthopaedics Research Foundation
Company Limited by Guarantee
Statement of Financial Activities
(including income and expenditure account)
Year ended 31 August 2023
2023
2022
Unrestricted funds
Total funds
Total funds
Note
£
£
£
Income and endowments
Donations and legacies
5
785
----
----
----
Total income
785
----
----
----
Expenditure
Expenditure on charitable activities
6,7
758
758
670
----
----
----
Total expenditure
758
758
670
----
----
----
----
----
----
Net (expenditure)/income and net movement in funds
( 758)
( 758)
115
----
----
----
Reconciliation of funds
Total funds brought forward
14,425
14,425
14,310
--------
--------
--------
Total funds carried forward
13,667
13,667
14,425
--------
--------
--------
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
Sports Orthopaedics Research Foundation
Company Limited by Guarantee
Statement of Financial Position
31 August 2023
2023
2022
Note
£
£
Current assets
Cash at bank and in hand
13,667
14,425
--------
--------
Net current assets
13,667
14,425
--------
--------
Total assets less current liabilities
13,667
14,425
--------
--------
Funds of the charity
Unrestricted funds
13,667
14,425
--------
--------
Total charity funds
10
13,667
14,425
--------
--------
For the year ending 31 August 2023 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on 19 February 2024 , and are signed on behalf of the board by:
I McDermott
Trustee
Sports Orthopaedics Research Foundation
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 August 2023
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 36 Dene Road, Northwood, Middlesex, HA6 2DA.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: - income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. - legacy income is recognised when receipt is probable and entitlement is established. - income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. - income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates: - expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods. - expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. - other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
4. Limited by guarantee
The company is Limited By Guarantee, having no share capital.
5. Donations and legacies
Unrestricted Funds
Total Funds 2023
Unrestricted Funds
Total Funds 2022
£
£
£
£
Donations
Donations
785
785
----
----
----
----
6. Expenditure on charitable activities by fund type
Unrestricted Funds
Total Funds 2023
Unrestricted Funds
Total Funds 2022
£
£
£
£
Support costs
758
758
670
670
----
----
----
----
7. Expenditure on charitable activities by activity type
Support costs
Total funds 2023
Total fund 2022
£
£
£
Promotion of sports orthopaedics research.
758
758
670
----
----
----
8. Staff costs
The average head count of employees during the year was Nil (2022: Nil).
No employee received employee benefits of more than £60,000 during the year (2022: Nil).
9. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
10. Analysis of charitable funds
Unrestricted funds
At 1 September 2022
Income
Expenditure
At 31 August 2023
£
£
£
£
General funds
14,425
(758)
13,667
--------
----
----
--------
At 1 September 2021
Income
Expenditure
At 31 August 2022
£
£
£
£
General funds
14,310
785
(670)
14,425
--------
----
----
--------